Verizon, AT&T stocks sink and Dish shares soar, on reports of talks with Amazon to offer mobile service to Prime members

Shares of Verizon Communications Inc.
VZ,
-4.75%
sank 2.6% in morning trading Friday, to pace the Dow Jones Industrial Average’s
DJIA,
+1.19%
decliners, after Bloomberg reported that Amazon.com Inc.
AMZN,
+1.95%
has been in talks with wireless carriers about offering mobile services to Prime members. AT&T Inc.’s stock
T,
-4.97%
dropped 3.6% following the reports, and shares of T-Mobile US Inc.
TMUS,
-9.38%
dropped 7.0% to pace the S&P 500’s
SPX,
+0.76%
decliners. Meanwhile, Dish Network Corp.’s
DISH,
+17.99%
stock shot up 16.0% to lead the S&P 500 gainers. Citing people familiar with the situation, the Bloomberg report said Amazon was negotiation with Verizon, T-Mobile and Dish to get the lowest wholesale prices, so it could offer the service to its Prime members at a low cost, or possibly for free. The report comes about a week after The Wall Street Journal reported that Dish was in talks to sell wireless plans for its new mobile phone service through Amazon’s website, with details of the new plans announced as soon as June.